Fair Value Measurement (Tables)

9 Months Ended

Sep. 30, 2020

Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis

The following table presents for each of these hierarchy levels, the Company's financial assets and liabilities that are measured at fair value on a recurring basis at September 30, 2020 and December 31, 2019:


(In thousands)	Level I		Level II		Level III		Total
At September 30, 2020:
Assets
Cash equivalents	$	295,051	$	—	$	—	$	295,051
Marketable securities	39,699		—		—		39,699


Foreign currency derivatives	—		1,366		—		1,366

Liabilities
Interest rate swap contracts	$	—	$	3,007	$	—	$	3,007
Foreign currency derivatives	—		3,568		—		3,568


At December 31, 2019:
Assets
Cash equivalents	$	191,214	$	—	$	—	$	191,214
Marketable securities	4,448		—		—		4,448


Foreign currency derivatives	—		1,884		—		1,884

Liabilities
Interest rate swap contracts	$	—	$	1,966	$	—	$	1,966
Foreign currency derivatives	—		1,888		—		1,888

Carrying Values and Fair Values of the Company's Financial Instruments

The carrying values and estimated fair values of the Company's financial instruments, excluding those that are carried at fair value in the condensed consolidated balance sheets, are summarized as follows:


(In thousands)	September 30, 2020
	Carrying Amount		Estimated Fair Value
Debt instruments:
Term loan A facility	$	687,991	$	679,875
4.75% Notes due August 2025	789,648		828,160
5.00% Notes due April 2024	990,436		1,019,700
4.75% Notes due December 2022	398,016		400,000
Other debt	1,000		1,000
	$	2,867,091	$	2,928,735


(In thousands)	December 31, 2019
	Carrying Amount		Estimated Fair Value
Debt instruments:
Term loan A facility	$	723,560	$	724,303
4.75% Notes due August 2025	788,247		803,000
5.00% Notes due April 2024	988,609		1,020,000
4.75% Notes due December 2022	595,813		605,250

	$	3,096,229	$	3,152,553